PVH Corp. Moving Sharply Higher After Raising Guidance

After gapping open sharply higher, shares of PVH Corp. (PVH) continue to see considerable strength in afternoon trading on Friday. PVH is currently up by 8.2 percent after reaching its best intraday level in a month.

The initial jump by PVH came after the apparel maker raised its fourth quarter and full-year earnings and revenue guidance.

PVH said it expects fourth quarter adjusted earnings of at least $1.75 per share, which is $0.15 per share above the high end of its previous guidance.

The company also forecast full-year adjusted earnings of at least $9.50 per share compared to previous expectations of $9.33 to $9.35 per share.

Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection.

Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020.

While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019.
For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...